Tax Benefits of Giving
For full information on the tax benefits of charitable giving, please contact us or your professional advisors. We can provide detailed information and help you assess the implications for you or your company. Below are brief highlights of some of the benefits.
If your company gives money to the Foundation it will pay less corporation tax. The full amount of the donation can be deducted from its profits for tax purposes.
Individuals:Your gift to the Community Foundation for Wakefield District will be treated as paid out of taxed income and as a charity we are able to reclaim basic rate tax from the Inland Revenue.
To enable us to make this claim we need you to complete our Gift Aid declaration form.
If you are a higher rate tax payer, you can claim tax relief on the difference between the basic and the higher rate of tax on the gross amount of your gift by entering the details on your Income Tax Self Assessment return.
Use our Ready Reckoner Gift Aid Calculator to see the value of your gift.
Please contact us or your local tax office should you need any further information.